Plant Tours Worth every Minute

The struggle to find “good fit” suppliers never ends. And finding the right suppliers has never been more important than right now. The global recession has put many companies’ very survival at stake.
How do you make sure – really sure – that your supplier is capable of going the distance providing you with the price, quality and service that your company and your customers demand?

Well, you could take the sales rep’s word for it. But we strongly suggest you see for yourself.

Simple as it sounds, an actual tour is the best way to gather reliable information about your supplier‘s all-important cost drivers, quality commitment and service culture.

It may seem like an inconvenience or a time-waster. But that plant tour will reveal so much about that supplier that it’s almost a crime not to go see. You really can’t do it from your office or even on the Internet. What is required is an old fashion, non-virtual plant tour…… You still gotta go look!

What follows is some lengthy, but worthwhile, advice on taking plant tours so that you get the insight and information you need to judge your suppliers’ capabilities and competitiveness.
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Historical Nickel Price Tumbling, Takes Monthly Stainless Index Down

The Stainless MMI® took a rather large blow in May, falling 6 points from 91 to 85, primarily on the back of falling nickel prices, falling 304 prices in China as well as 304 China scrap prices.

A nickel glut has forced down the price by nearly about 50 percent since 2011, according to a recent Reuters report.

via Historical Nickel Price Tumbling, Takes Monthly Stainless Index Down | MetalMiner

U.S. Flat Product Prices Fall

US hot rolled coil transaction figures slipped further in June, as was expected. There is still domestic overcapacity, despite the demise of RG Steel. Delivery lead times have shrunk and local mills are facing severe competition from attractively priced Russian coil now standing at the docks. Buyers are expecting a further decrease for the summer.

Hot rolled plate transaction figures declined again in June for a number of reasons.

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MEPS World Steel Price Forecast

MEPS predicts that its World Composite Steel Price will rise by approximately 11.5 percent by mid 2012. The most significant gains are anticipated in the flat products segment as prices rally after the substantial reductions in the second half of last year.

The steel price revival was led by the changing market situation in North America as scrap prices surged at the end of 2011. The prospect of higher raw material costs also pushed up steel selling values recently in Asia and Europe.

via STEEL INDUSTRY NEWS FROM MEPS INTERNATIONAL LTD.

Stainless Steel Prices Predicted to Rise 25%

Over the past few weeks, nickel prices have escalated by 10 percent. Chromium prices are expected to follow a similar pattern. Scrap costs are increasing. These factors are predicted to lead to stock replenishment by both distributors and end users as they attempt to buy ahead of higher stainless steel prices resulting from rising mill input costs.

MEPS forecasts that its benchmark, type 304, cold rolled Stainless Steel World Price will increase by $US850 per tonne over the next six months. The gain is expected to be driven by a combination of rising input costs and inventory building in the supply chains around the world

via Stainless steel prices to rise 25% in 2012 – MEPS.

Scrapping Record Fails to End ‘Nightmare’ for Shipowners: Freight Markets

Rates will remain below about $11,000 a day for the rest of the year, compared with a breakeven point of about $23,000, according to Johnson Leung, head of regional transport at Jefferies Group Inc. in Hong Kong.

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THE MEPS GLOBAL STEEL PRICE JUMPS 10 PERCENT IN FEBRUARY

Good overall demand helped mills in all regions to implement price hikes in February as they attempted to recover their escalating input costs. Weakening of the US dollar against many Asian and EU currencies added to the upward trend in the calculated MEPS average transaction values.

Sales volumes improved due to growing end-user demand and re-stocking by many distributors. Availability remains tight due to restricted production volumes and low inventories in the market.

Recent gains in spot market prices for raw materials will, almost certainly, result in significant advances for second quarter contract prices for iron ore and coking coal. Scrap costs are also likely to move higher in the short term due to increased buying activity in Asia. Consequently, steel transaction values are forecast to climb further over the next few months.

via carbon steel price news, steel news, free steel news, steel industry news, steel price news, steel news alerts.

Steel/Scrap: Pricing Pause or Inflection Point? – UBS

Slipping scrap makes buyers skittish

Global scrap prices are falling and UBS industry contacts see more weakness ahead. Scrap is often a leading steel price indicator.

Even with Turkish buying and reasonable U.S. demand, they heard shred was $440/t this wk from a peak $520/t in Jan. as “prices were just too high” and buyers had rebuilt inventory. Chinese new year’s typical pause may be part of the weakness, but spot met coal also seemed eager to slip once it was clear Australia ports were spared the brunt of the recent cyclone. Scrap is often a leading steel price indicator.

via Steel/Scrap: Pricing Pause or Inflection Point? – UBS.

GLOBAL STEEL PRICES CONTINUE THEIR UPWARD SURGE – MEPS

In the US, the pace of flat product price increases is described as “fast and furious”. The shortage of scrap and surging costs of other raw materials have pushed the mills into a frenzy of announcements regarding transaction numbers. As is usual, actual market prices are lagging behind the proposals. In the meantime, real demand is only just satisfactory

Consumption in western Europe has changed very little during the last four weeks. Nevertheless, domestic producers are poised to lift second quarter offers because of raw material price developments and energy cost increases. Steel output has been curbed and restocking is expected to get underway shortly.

via STEEL INDUSTRY NEWS FROM MEPS INTERNATIONAL LTD, Steel Price News and Steel News Alerts, World Steel Price News, Steel Prices, Steel News, Steel Price, Steel Industry News.

RAMPANT STEEL PRICE RISES IN EU MARKET – MEPS

Although consumption has changed very little, domestic producers are attempting to lift second quarter offers because of raw material price developments and energy cost increases. Outlay on iron ore is forecast to rise and coking coal shipments from Australia are being affected by the floods.

An upsurge in steel purchasing activity is predicted over the next few months as distributors look to re-fill depleted inventories. Consumption should also improve this year. Consequently, MEPS forecasts steel values to advance considerably during the first half of 2011.

Prices for flat products picked up rapidly during the second half of December, driven by higher input costs and some restocking by distributors. Both rerollers and the integrated producers benefited from the increases. Third country values are also soaring, making material from those sources quite unattractive.

Long product values are currently rising very fast in the European market, following a concerted push by producers, due to the continuous surge in scrap prices. Most distributors only purchased relatively small quantities at the end of last year and now need to buy in order to increase their stock levels. End-user activity has improved slightly but remains subdued.

via Steel Price News, Steel news, EU steel prices, Steel Industry news, Free steel news, Steel news, Steel news alerts.